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Saudi Arabia has begun implementing the first phase of a nationwide plan to localise accounting professions in the private sector. Effective Monday, October 27, establishments employing five or more accountants are required to meet a 40 per cent Saudisation rate.
The move, announced by the Ministry of Human Resources and Social Development in partnership with the Ministry of Commerce, aims to strengthen local talent in the kingdom’s private sector, a Saudi Gazette report said.
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Under the new regulations, the minimum wage for accountants has been set at SAR6,000 for bachelor’s degree holders or equivalent and SAR4,500 for diploma holders or equivalent.
Authorities said the measure is part of broader efforts to create more diverse employment opportunities for both male and female citizens across all sectors.
The Saudisation targets span 44 accounting professions, including financial manager, accounting manager, finance and accounting manager, accounts and budget manager, treasury manager, certified public accountant, financial controller, and senior financial auditor. The programme will be implemented in five phases over five years, gradually increasing the localisation rate to 70 percent, giving companies ample time to adjust while ensuring steady workforce localisation.
Guidelines, compliance, and incentives
The Ministry of Human Resources has published a procedural guide on its website, detailing required Saudisation percentages and implementation steps. Establishments are urged to comply to avoid legal penalties. The Ministry of Commerce will oversee the initiative, ensuring adherence aligns with labor market needs.
Private sector employers can benefit from several support programs, including recruitment assistance, training, qualification, employment, and career continuity services. Companies will also gain priority access to Saudisation support programs and the Human Resources Development Fund’s (HADAF) initiatives, helping them integrate local talent more effectively.
The decision underscores Saudi Arabia’s commitment to localising professional roles, particularly in the accounting sector, aligning workforce development with broader economic diversification goals while supporting sustainable growth in the private sector.
